SPX Technologies price target raised to $100 from $97 at Oppenheimer

Oppenheimer raised the firm’s price target on SPX Technologies to $100 from $97 and keeps an Outperform rating on the shares after hosting investor meetings with CEO Gene Lowe and VP Paul Clegg and coming away very confident in the company’s sustainable double-digit EPS CAGR. The firm believes the team is comfortably tracking to 2023 EPS guidance of $4.15-$4.30, with HVAC share gains, ramping deal accretion, the strong D&M project backdrop, and likelihood of incremental M&A all supporting robust earnings/cash flow momentum into 2024.